Naira Improves Against Dollar At The Parallel Market

The Nigerian naira has recorded an impressive run against the dollar and other major currencies as it gained at the parallel market.

Currency

The Naira on Thursday gained 40 kobo to firm against the dollar at the parallel market in Lagos.

The Nigerian currency exchanged at N358, stronger than N358.4 traded on Wednesday, while the Pound Sterling and the Euro closed at N480 and N417, respectively.

At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N480 and N417, respectively.

Trading at the investors’ window showed that investors settled for N362.19 to the dollar, with a market turnover of 146.85 million dollars, while the naira exchanged at N306 to the dollar at the CBN window.

Meanwhile, the apex bank had sustained its interventions at the interbank foreign exchange market with the injection of 210 million dollars to the market on Tuesday.

NAN reports that the series of interventions of the CBN had helped to stabilise the exchange rate at the market.